Nebraska § 72-232.07 - School lands; administration costs; expenditures; Land Improvement Fund; created; purpose; investment.
Full text of Nebraska Revised Statutes of Nebraska § 72-232.07 — School lands; administration costs; expenditures; Land Improvement Fund; created; purpose; investment., with citation guidance and answers to common questions.
§ 72-232.07. School lands; administration costs; expenditures; Land Improvement Fund; created; purpose; investment.
The cost of administering unsold school lands shall include expenditures necessary for developing such school lands to their most productive use. All expenditures shall be directed by the board in exercising its responsibility as a trustee over the school land trust and shall not exceed twenty percent of all rental and bonus payments of the previous year, which amount shall be appropriated for each year to the board for payment of development and improvement costs completed and approved by the board upon contracts let for this purpose. All rental and bonus payment deductions as authorized by this section shall be remitted to the State Treasurer for credit to the Land Improvement Fund, which fund is hereby created, to be expended upon proper warrants in accordance with law. Any money in the fund available for investment shall be invested by the state investment officer pursuant to the Nebraska Capital Expansion Act and the Nebraska State Funds Investment Act.
Source: official Nebraska text · Last verified 2026-08-27
Frequently Asked Questions About Nebraska § 72-232.07
What does Revised Statutes of Nebraska § 72-232.07 cover?
Section 72-232.07 ("School lands; administration costs; expenditures; Land Improvement Fund; created; purpose; investment.") is part of the Revised Statutes of Nebraska, the codified statutory law of Nebraska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nebraska § 72-232.07?
A common citation format is "Revised Statutes of Nebraska § 72-232.07" (Nebraska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nebraska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nebraska official source linked on this page or consult a licensed Nebraska attorney.
How does Nebraska § 72-232.07 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nebraska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nebraska.